BAGE: As of December 6, the soybean planting progress in Argentina was 37.1%

Foreign media news on December 11: The weekly report of the Buenos Aires Grain Exchange (BAGE) said that as of the week of December 6, 2022, the progress of soybean planting in Argentina for the 2022/23 season reached 37.1%, higher than that of the previous week. The previous 29.1%, 19% lower than the same period last year.

The exchange estimates that Argentina’s soybean acreage in 2022/2023 will be 16.7 million hectares, an increase of 400,000 hectares or 2.5% from the previous year’s 16.3 million hectares, because the dry weather has caused Argentine farmers to switch corn arable land to soybeans.

The exchange expects soybean production to be 48 million tons, up from 43.3 million tons in 2021/22.